Ingredion (NYSE:INGR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, January 10th. The brokerage presently has a $157.00 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 15.10% from the stock’s current price.
According to Zacks, “Ingredion Incorporated is an ingredients solutions provider specializing in nature-based sweeteners, starches and nutrition ingredients. The Company serves diverse sectors in food, beverage, brewing, pharmaceuticals and other industries. Its sweetener products include dextrose, glucose, polyols, HFCS and Maltodextrin. The Company’s nutrition solutions include prebiotic fibers, resistant starch, soluble fibers and Inulin fibers. Its starch-based products include both industrial and food-grade starches. Ingredion Incorporated, formerly known as Corn Products International, Inc., is headquartered in Chicago. “
Other research analysts have also issued reports about the stock. Jefferies Group set a $145.00 target price on shares of Ingredion and gave the stock a “buy” rating in a research note on Sunday, October 29th. BidaskClub raised shares of Ingredion from a “sell” rating to a “hold” rating in a research report on Friday, October 6th. BMO Capital Markets reiterated a “hold” rating and issued a $125.00 target price on shares of Ingredion in a report on Friday, September 29th. Credit Suisse Group restated an “outperform” rating and issued a $145.00 price target (up previously from $140.00) on shares of Ingredion in a research note on Thursday, November 2nd. Finally, Stephens upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $144.50.
Shares of Ingredion (NYSE INGR) traded down $0.66 on Wednesday, hitting $136.40. The stock had a trading volume of 305,900 shares, compared to its average volume of 365,825. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.53 and a current ratio of 2.41. Ingredion has a 12-month low of $113.07 and a 12-month high of $142.64. The stock has a market cap of $9,780.00, a price-to-earnings ratio of 19.51, a PEG ratio of 1.48 and a beta of 0.72.
Ingredion (NYSE:INGR) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.17. Ingredion had a return on equity of 20.92% and a net margin of 8.73%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm earned $1.96 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. research analysts forecast that Ingredion will post 7.73 earnings per share for the current fiscal year.
In other news, SVP Jorgen Kokke sold 20,674 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $133.00, for a total value of $2,749,642.00. Following the sale, the senior vice president now directly owns 23,119 shares in the company, valued at $3,074,827. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.92% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. BB&T Corp grew its holdings in Ingredion by 9.2% during the 3rd quarter. BB&T Corp now owns 45,396 shares of the company’s stock worth $5,476,000 after acquiring an additional 3,824 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Ingredion by 7.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 53,182 shares of the company’s stock worth $6,702,000 after buying an additional 3,831 shares during the last quarter. Alps Advisors Inc. bought a new stake in Ingredion in the 3rd quarter valued at about $540,000. Commerzbank Aktiengesellschaft FI lifted its position in Ingredion by 30.6% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 3,408 shares of the company’s stock valued at $411,000 after purchasing an additional 798 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in Ingredion in the 3rd quarter valued at about $473,000. 84.47% of the stock is owned by institutional investors.
Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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